Society is „a series of individual “social contracts” between members of society and society itself‟ (Gray et al., 1996). These contracts define the rights and responsibilities of the parties in that relationship and also create the risks and opportunities for companies. In the past, profitability was the highest priority for companies and managers seldom pay intension to minimize their organizations‟ environmental impacts and to manage their environmental costs (IFAC, 2005). Environmental performances of companies are becoming the new social contracts between companies and the society